{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Ep. 57 - Meet the Doctor for Your Student Loan Ills","description":"Navigating Student Loan Debt with PT Grad and Podcaster Will Boyd Most college students don\u2019t understand what they\u2019re getting into when they take on student loan debt. It is easier to remain blissfully ignorant of compounding interest while you enjoy the university experience, but that lack of knowledge may cost you the ability to live the life you want later on. Will Boyd recently earned his doctorate in physical therapy from Chatham University in Pittsburgh, but his journey to a degree in healthcare was not a straightforward one. His Bachelor\u2019s was in international studies, and Will\u2019s original intent was to become a human rights lawyer. But while teaching English in Spain and studying for the LSAT in preparation for law school, he realized that his health was suffering from extended periods sitting behind a desk. Will sought guidance from Google about his future, and eventually landed on PT as his chosen field. Will is the host of two podcasts: The Knowbodies, a show that features leaders in health, wellness and self-development, and Breaking Student Debt, a program to document his journey navigating his way out of the student loan debt he accumulated in graduate school. Today Will shares the breakdown of what he owes, how he is working to refinance his student loans, and the connection between debt and your health. Listen in and learn how to be your own unicorn, face your debt head on and live the life you want! Topics Covered Will\u2019s student loan debt \u2022 $161,000 with compounding interest \u2022 $80,000 in Stafford loans for tuition \u2022 $60,000 in Grad PLUS loans for personal expenses \u2022 $20,000 interest \u2022 No private loans \u2022 Some loans begin accruing interest as soon as you accept money \u2022 4.5% adds up quickly over time Will\u2019s mindset around debt during grad school \u2022 \u2018Ignorantly cognizant\u2019 \u2022 Took out more than needed to have buffer \u2022 Because money was cause of tension in family, didn\u2019t want it to dictate own life Will\u2019s advice to young people regarding money and debt \u2022 Consider taking a year off after high school \u2022 Work full time to understand real hard work, time investment \u2022 Career path may not require formal education \u2022 Get creative in funding education via scholarships, crowdfunding The feasibility of working while going to school \u2022 Intense academic course load didn\u2019t allow Will to do so \u2022 Did some website building, online marketing on the side \u2022 Weigh pros and cons of giving up 10-15 hours of free time Will\u2019s refinancing process \u2022 Standard repayment plan would cost $1,981\/month for ten years \u2022 Connected with FitBUX for advice \u2022 Transfer to extended fixed plan, owes $1,100\/month \u2022 Consolidating eight different loans to one interest rate (dependent on credit score and debt-to-income ratio) \u2022 Documenting journey through podcast Will\u2019s take on the federal student Loan Forgiveness program \u2022 Great concept, really helped some \u2022 Others disillusioned and ended \u2022 Change in government leadership could take away \u2022 Look into it if on service-oriented career path \u2022 After ten years at non-profit, remaining debt forgiven The Breaking Student Loan Debt podcast \u2022 Documents Will\u2019s journey navigating system \u2022 Focus on understanding system \u2022 Explore tactics for paying off debt \u2022 Share ideas for growing income Mass Mutual\u2019s findings around the LGBT community and money \u2022 80% concerned about direction of government, compared to 66% of general population \u2022 65% worried about money, compared to 57% of general population \u2022 45% believe money woes adversely affect their health, compared to 34% of general population Will\u2019s perspective on financial worry and your health \u2022 We grossly underestimate the cost of financial worry on physical health \u2022 Need to start talking about it, especially in time of chaos in government \u2022 Healthcare is more psychology than anything else \u2022 Develop a mindset to confront money issues \u2022 Invest in yourself, your belief system","author_name":"Queer Money","author_url":"http:\/\/queermoneypodcast.com","html":"